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OPEC Faces $200bn+ Question Next Week In Vienna
...rm or test new lows. After Brent settled below $60/B on 23 November for the first time since October 2017, prices have fluctuated either side of the line. The 2016 “Declaration of Cooperation” under which 24 countries (new Opec member Congo was not a signatory) agreed to cut some 1.8mn b/d ex...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Opec/Russia ‘Historic’ Strategic Alignment: Can It Hold?
...rward, Mr Falih says that Nigeria and Libya have pledged that 2018 production will not exceed this year’s levels. They will not “surprise on the upside” he says. Given the volatility of their output, this presumably means their maximum output in 2017 – some 1mn b/d for Libya and 1.84mn b/d for Nigeria – ra...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Opec Agrees To Cut, But Questions Remain Over Implementation
...tential 1.8mn b/d cut – with the ‘non-Opec’ portion slated to be finalized at a 9 December meeting – is due to come into force on 1 January 2017, but is far from a done deal, and implementation will likely be problematic. The meeting is tentatively slated for Doha, but this has yet to be finalized. Th...
Volume: 59Issue: 48Published at Fri, 02 Dec 2016